Global pig iron production in the first quarter increased by 3.1% y/y

In March, global pig iron production increased by 4.4% y/y and 3.6% m/m

In January-March 2023, the global production of pig iron increased by 3.1% compared to the same period in 2022 – up to 348.88 million tons. In March, the global production of pig iron amounted to 120.06 million tons, which is 4.4% more y/y and 3.6% m/m. This is evidenced by Ukrmetalurgprom’s data with the reference to WorldSteel Association.

In the first quarter of 2023, world production of pig iron by the blast furnace method amounted to 322.93 million tons, and by the method of direct reduction iron – 25.95 million tons.

The largest pig iron-producing countries in January-March 2023 are:

• China – 219.83 million tons (+7.6% y/y);
• India – 32.92 million tons (+8.2% y/y);
• Japan – 15.67 million tons (-6.4% y/y).

Ukraine for January-March 2023 produced 1.2 million tons of pig iron, which is 65.7% less compared to the same period in 2022. Thus, the country dropped to 19th place in the ranking of world pig iron producers. In March, 466,000 tons of pig iron were smelted (+32% m/m and +69.5% y/y).

Ukrainian steelmakers are gradually increasing steel capacity in accordance with logistical and market opportunities. In particular, Zaporizhstal in March took out blast furnace №2 from forced hot preservation. From now on, the blast furnace shop of the enterprise will work with three blast furnaces. For the full recovery of steel production capacities in Ukraine, the unblocking of domestic seaports for iron and steel products is required.

As GMK Center reported earlier, in 2022 world production of pig iron decreased by 3% compared to 2021 – to 1.39 billion tons. 1.28 billion tons of pig iron were produced by the blast furnace method, and 110.52 million tons by the method of direct reduction iron.

In the top three pig iron production leaders in 2022: China – 863.83 million tons (-0.8% y/y), India – 121.9 million tons (+4.4% y/y) , Japan – 64.1 million tons (-8.8% y/y). In 2022, Ukraine took 15th place in the ranking of world pig iron producers with an indicator of 6.39 million tons (-69.8% y/y).

Also, global steel production in 2022 decreased by 10.8% compared to 2021 – to 140.7 million tons. The top three producing countries: China – 1.013 billion tons (-2.1% y/y), India – 124 .7 million tons (+5.5% y/y), Japan – 89.2 million t (-7.4% y/y). Ukraine took 25th place with a result of 6.3 million tons (-70.7% y/y).